Polymarket has fired Chief Marketing Officer Matthew Modabber following an internal investigation into marketing practices and his conduct, according to sources cited by the New York Post. Modabber had served as CMO since January 2024. The probe reportedly examined several incidents, including a marketing campaign involving staged videos and a fake webpage. The dismissal marks a leadership change at one of the crypto sector’s most prominent prediction market platforms.
The internal review also reportedly examined Modabber’s use of a personal PayPal account to pay influencers, sometimes without sponsorship disclosures, as well as broader concerns raised by company lawyers and investors. Polymarket has not publicly confirmed the specific reasons for Modabber’s departure, and neither the company nor Modabber provided substantive comment on the reported firing. The CFTC investigation linked to the marketing campaign remains ongoing, with no wrongdoing established.
Polymarket had already restructured its marketing organization in August, reducing Modabber’s responsibilities before his departure. The next point to watch is how the company reshapes its marketing and governance structure following the internal probe, particularly as sources say its board is focused on strengthening controls while the business considers a potential IPO.
Source: New York Post.
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